In accordance with the directive from the Reserve Bank of India (RBI), Compliance Management Systems Made Mandatory, financial institutions are required to adopt technology-driven solutions for overseeing their internal compliance processes and operations. RegTrack, our next-generation compliance management software, is tailored to meet these requirements, ensuring transparency, accountability, and timeliness in compliance. RegTrack offers real-time visibility into compliance statuses, streamlined automated workflows, and an integrated document management system.
RBI Mandate through Our Compliance Management Software
RBI Requirement | RegTrack |
Provide a platform for effective communication and collaboration among all the stakeholders (business, compliance and IT teams, Senior Management, etc.) | Reminders and escalations via emails from the product, & comments within the product. |
Identify, assess, monitor and manage compliance requirements | Compliance applicability assessment, |
Escalate issues of non-compliance | Email Notification Engine |
Ask for recorded approval from a competent authority for any deviations/ delays in compliance submissions / filings | Maker checker concept |
Provide a unified dashboard view to Senior Management on the compliance position of the Regulated Entity as a whole | Colour coded Smart Dashboard with drill down capabilities |
REGTRACK FINANCIAL INSTITUTIONS
Track Compliance as per the new RBI’s Directive